SIGN UP FOR THE BREITBART EMAIL NEWSLETTER

Twitter Stock Plunges After Revenue Misses Estimates

Twitter Inc disappointed investors yet again with first-quarter results that showed stagnant revenue growth as the microblogging service struggles to grab new users amid efforts to improve its complicated interface with several new features.

Twitter shares plunged 13.6 percent to $15.34 in late trade on Tuesday after reporting lower-than-expected revenue, hurt by weaker than expected spending by big advertisers, and providing a current-quarter revenue forecast well below analysts’ expectations.

Twitter’s user base grew modestly to 310 million monthly active users in the quarter ended March 31 from 305 million in the fourth quarter, above analysts’ expectations. But investors were let down by the revenue miss since outlining a turnaround plan.

“It’s obvious Twitter is having trouble,” said Arvind Bhatia, analyst with CRT Capital. “It’s not growing anywhere close to where people expected a while back.”

Read the rest of the story at Reuters.

P.S. DO YOU WANT MORE ARTICLES
LIKE THIS ONE DELIVERED RIGHT TO YOUR INBOX?
SIGN UP FOR THE DAILY BREITBART NEWSLETTER.


Comment count on this article reflects comments made on Breitbart.com and Facebook. Visit Breitbart's Facebook Page.

SIGN UP FOR THE OFFICIAL
BREITBART EMAIL NEWSLETTER

GET TODAY'S TOP NEWS DELIVERED RIGHT TO YOUR INBOX

I don't want to get today's top news.

x